Is anyone trading with the Conquest EA? Is it simply a version of MakeGrid?
HI Ben,
Conquest is a simple countertrend grid EA. works only on IBFX on eur/gbp, uses .679 price and places buy and sell limit orders, that never get deleted.This EA. is good as long as eur/gbp stays in its ranging condition, if and when eur/gbp gets into a major up or down trend it is very capable of blowing a account.
Conquest is a simple countertrend grid EA. works only on IBFX on eur/gbp, uses .679 price and places buy and sell limit orders, that never get deleted.This EA. is good as long as eur/gbp stays in its ranging condition, if and when eur/gbp gets into a major up or down trend it is very capable of blowing a account.
Thanks. You're saying it uses .6790 as the center -- always? And so simply if the price is above, it's in sell mode; and if below in buy mode?
Where does the .6790 come from -- I mean, why .6790?
Yes .6790, where it comes from all I can do is guess they calculated the range for a period of time and came up with .6790 as the center point, thats all I can figure.
Just so we're all clear, could you please post how and why? I have no interest in this piece of code, but I just want to know for certain why it's a scam, as I'm sure other people want to know as well.
Read comments here and here and here and while your at it, take a look at what Google thinks of the Conquest EA web site. Hopefully that answers your question.
Read comments here and here and here and while your at it, take a look at what Google thinks of the Conquest EA web site. Hopefully that answers your question.
Ignored
I'm not quite sure why those two links prove the EA is a scam. One site talks about someone trying to scam Protraderforex not that the Conquest EA is a scam. The other link is the same as the link in your signature. Are you selling other EAs?
Note: The EA might be a scam or it may be great. I have no idea. I have never used it and I tend to mistrust internet advertising for forex products.
The Conquest isnīt really a scam, but rather an incomplete EA. As noticed elsewhere it works OK as long as the EURGBP keeps within itīs range. Right now the price has moved very sharply upwards, and I bet all Conquest accounts have either blown, or if the hedge position is open theyīre simply "resting", paying the swap difference between the long and short positions.
If this goes on for long the account will still blow eventually. The only thing that can save it is the EURGBP dropping down to somewhere 0.7200 or lower. Then the hedge can be closed and "normal" trading can continue. Strange thing is that no updates are emailed from Protraderforex the last weeks as the used to be. I would say itīs the way the EA is sold that should be considered a scam, not the EA itself. If hedged properly, it can very well work in the future. Or if reconfigured to trade another pair......
I agree. I have the latest conquest 2008 and it has a built in hedge which puts on the trade once the margin level is equal to x percent and the price is more than x pips pips out of grid. The grid center is not at .6790. It is about .7400. What the others are referring to is a very old version which has since been outdated and replaced. This new one I have does about a thousand orders at a time and is very different. The whole screen is filled with so many orders I cannot even count them all.
It works fine for me. When I hear the word scam tossed about it is mainly due to anger because of failed forex trading they have had in the past. Anyone can go to a forum and post a lie about anything which people do all of the time. A piece of software like conquest is what it is. Software. Nothing more. Also the link that says go here and see what google thinks is also an error on the behalf of the poster. If you do a search on google for expert advisor you will see the site is #2 on Google (very high praise by google) and the link works fine.
I also talked to them about sending out updates but they are selling a new piece of software now and are focuing their efforts on it more then this one.
The Conquest isnīt really a scam, but rather an incomplete EA. As noticed elsewhere it works OK as long as the EURGBP keeps within itīs range. Right now the price has moved very sharply upwards, and I bet all Conquest accounts have either blown, or if the hedge position is open theyīre simply "resting", paying the swap difference between the long and short positions.
If this goes on for long the account will still blow eventually. The only thing that can save it is the EURGBP dropping down to somewhere 0.7200 or lower. Then the hedge can be closed and "normal" trading can continue. Strange thing is that no updates are emailed from Protraderforex the last weeks as the used to be. I would say itīs the way the EA is sold that should be considered a scam, not the EA itself. If hedged properly, it can very well work in the future. Or if reconfigured to trade another pair......
Is the grid center set to 0.7400 all the time nowadays? Or is it floating? Thatīs the interesting part, because sooner or later the EURGBP is almost bound to drop again. I noticed the update to "Conquest 2008" when the grid center was adjusted to 0.7000. Has it been changed again?
Also, I read about the other EA they sell, but I find it somewhat strange they totally seem to have dropped promotion of the Conquest, especially since this was sold as the "only way to trade Forex" and similar. Nevertheless, the interesting part is if the EA still works, despite all the posts Iīve seen about it.
I built a similar grid trading EA myself, but programmed it to open several hedges at some distance between them. This way the EA can hedge in a "softer" way, and modify each hedge-stoploss when the price has moved x pips in its favour. On the way back the hedge(s) can be closed without loss, or even some profit.
The grid center changes once all of trades are are at x percent loss. You can also set the hedge trade to come on at any %margin you want. The default is 500% but you can change that to a higher number if you want. Grid trading is risky and this is stated everywhere on the site they have and the emails. I have had some drawdown with this too so it is not the only way to trade I agree. Mechanical approaches (grids, martingale, auto-hedging EA's) to trading no matter how well intended all have serious limitations. If you use them sparingly it can yield some profits though.
Is the grid center set to 0.7400 all the time nowadays? Or is it floating? Thatīs the interesting part, because sooner or later the EURGBP is almost bound to drop again. I noticed the update to "Conquest 2008" when the grid center was adjusted to 0.7000. Has it been changed again?
Also, I read about the other EA they sell, but I find it somewhat strange they totally seem to have dropped promotion of the Conquest, especially since this was sold as the "only way to trade Forex" and similar. Nevertheless, the interesting part is if the EA still works, despite all the posts Iīve seen about it.
I built a similar grid trading EA myself, but programmed it to open several hedges at some distance between them. This way the EA can hedge in a "softer" way, and modify each hedge-stoploss when the price has moved x pips in its favour. On the way back the hedge(s) can be closed without loss, or even some profit.
Seems reasonably logical to me, but Iīm curious on what basis the hedge position is closed. Is it when the margin level finally moves above 500% again after som trading, or is it by a stoploss?
